https://www.taxtmi.com/caselaws?id=246852 The Tribunal held that the Commissioner erred in rejecting registration under Section 12AA of the Income-tax Act, 1961. It found that the dissolution clause in the Memorandum and Articles of Association complied with the necessary conditions, allowing for transfer of property to another company with similar objects. The Tribunal emphasized the distinction between a trust under the Bombay Public Trust Act, 1950 and a Section 25 company under the Companies Act, 1956, citing precedent supporting registration under Section 12AA for such entities. The Commissioner was directed to review the documents and grant registration if requirements were met. en-us Fri, 22 Nov 2013 00:00:00 +0530 Thu, 24 Apr 2014 08:03:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=246852 The Tribunal held that the Commissioner erred in rejecting registration under Section 12AA of the Income-tax Act, 1961. It found that the dissolution clause in the Memorandum and Articles of Association complied with the necessary conditions, allowing for transfer of property to another company with similar objects. The Tribunal emphasized the distinction between a trust under the Bombay Public Trust Act, 1950 and a Section 25 company under the Companies Act, 1956, citing precedent supporting registration under Section 12AA for such entities. The Commissioner was directed to review the documents and grant registration if requirements were met. Case-Laws Income Tax Fri, 22 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=246852